Stock futures pointed to a lower opening for Canada's main stock index
The S&P/TSX Composite tumbled 170.69 points, or 1.1%, to close Monday at 15,405.12. The index last lost more than 1.3% on Sept. 13, while it touched its lowest intraday since Jan. 18 at 15,368.80.
The Canadian dollar increased 0.2 cents to 76.52 cents U.S. early Tuesday.
Wealthsimple announced a $20-million investment from Power Financial, and formally launched in the United States, as it looks to compete in a crowded American market dominated by big investment firms.
CIBC cut the price target on Detour Gold to $21.00 from $23.00 to reflect the delay in permitting at West Detour.
Desjardins cut the price target on New Gold to $5.00 from $7.25, citing a financing overhang estimated in the $150-million range has developed.
Imperial Oil reports Q4 earnings, expecting 37 cents per share
On the economic beat, Statistics Canada reported that November gross domestic product rose for the fifth time in six months, up 0.4% in November.
The nation’s number crunchers said the hike was powered by higher output in manufacturing, mining, quarrying, and oil and gas extraction, finance and insurance and construction.
The agency also said its industrial product price index rose 0.4% in December, led mainly by higher prices for energy and petroleum products.
The raw materials price index increased 6.5%, mainly due to higher prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange skidded 7.38 points Monday to 802.24
ON WALLSTREET
U.S. stock index futures pointed to a lower open on Tuesday as traders continued to digest President Donald Trump's controversial refugee policy and eyed a deluge of earnings.
Ahead of the opening bell, futures for the Dow Jones Industrials dwindled 39 points, or 0.2%, to 19,849. Futures for the S&P 500 faded five points, or 0.2%, to 2,271. NASDAQ futures slumped 11.5 points, or 0.2%, at 5,112.75.
On the earnings front, Eli Lilly, Pfizer, Harley-Davidson, Xerox and UPS are among the companies that reported before the bell. While, Apple, Arconic, Electronic Arts, Equity Residential and U.S. Steel are among the major companies due to report after the market close.
On the data front, Tuesday will see employment cost index, S&P Case-Shiller Housing Price Index and Chicago Purchasing Managers Index, as well as consumer confidence and housing vacancies
European stocks were trading around the flatline on Tuesday afternoon. In Asia, the Nikkei in Japan closed 1.7% lower.
Oil prices eked higher 14 cents to $52.77 U.S. a barrel
Gold prices improved $10.40 to $1,206.40 U.S. an ounce.
